By Providence Adeyinka
MTN Nigeria Communications Plc has announced the payment of N9.40 as total dividend for the year ended December 31, 2020, representing 18.7 percent over N7.92 declared in 2019.
Speaking at the company’s Annual General Meeting (AGM), in Lagos, Chairman of the company, Dr. Ernest Ndukwe, said that despite the challenging operating conditions during the year, the company recorded improved performance across all key metrics, creating the shareholder value achieved.
He said that the performance demonstrates the success of cost optimisation measures initiated during the year and strong operational execution of its people and resilience in its business.
“Following from our good operating results and in line with our dividend policy, the board has recommended a final dividend of N5.90 per share to be paid out of distributable net income. This brings the total dividend for the year to N9.40 per share, representing an increase of 18.7 percent.”
Earlier in the fiscal year, the company had paid an interim dividend of N3.50, which now brings the total dividend for the year ended 31st December 2020 to N9.40.
The financial performance of the company showed that it grew its earnings before interest, tax, depreciation, and amortisation by 9.7 percent to N685.7 billion, while the pre-tax profit rose by 2.6 percent to N298.9 billion and profit after tax rose by 0.9 percent to N205.2 billion.
Its mobile subscribers increased by 12.2million to 76.5 million, while its active data users grew by 7.4 million to 32.6 million.